Metro Bank increases job cuts to 1,000 and ends seven-day branch model
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#6KA8J)
Lender nearly triples size of cost-cutting plan to 80m after autumn rescue deal
Metro Bank is cutting 1,000 jobs and ending its trademark seven-day branch model, after nearly tripling the size of its cost-cutting plan after its autumn rescue deal.
The lender said on Wednesday that it had expanded an original 30m cost savings plan, first announced in October, to 50m - after axing about 200 more staff than it had initially aimed for - and now planned to slash a further 30m in costs by the end of the year, bringing its total savings to 80m.
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